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Atena Equity Partners invests in cybersecurity and information technology group Redshift

Published

7 months ago

February 26, 2024

The acquisition of a majority stake in the cybersecurity and information technology group, which boasted sales exceeding 12 million euros in 2023, was carried out in partnership with Simon Church and aligned with management team’s vision.

LISBON, Portugal, Feb. 26, 2024 /PRNewswire/ — Atena Equity Partners has acquired a majority stake in the Redshift Group, specialist in cybersecurity and information technology. The acquisition of a 51% stake was completed in partnership with Simon Church, a renowned professional in the cybersecurity field, while the management team remains in company and fully committed to its growth.

Atena Equity Partners’ investment aims to unlock Redshift’s tremendous potential by exploring both organic growth and strategic acquisitions. The collective ambition is to position Redshift as a frontrunner in Portugal and expedite its international expansion.

Redshift reported a turnover exceeding 12 million euros in 2023, achieving a double-digit growth compared to the previous year. The 14-year-old information technology group specializes in Cybersecurity, Cloud, Low Code, as well as Information Management solutions and services. It has facilities in Portugal’s key cities like Lisbon and Oporto. Its highly specialized team of over a hundred employees serves more than 150 clients worldwide, spanning Public Administration, Banking, Industry, Health, Insurance, Telecommunications, Transport, and Utilities sectors. The group includes Redshift Consulting, Redshift Solutions, and Redshift Innovation, all of which collaborate with leading global software companies to deliver tailored solutions to meet client needs.

João Manso, CEO, founder, and shareholder of Redshift, emphasizes: “Atena’s investment in Redshift acknowledges our past achievements and sets the stage for accelerated growth. With Atena and Simon on board, we strengthen our value proposition and competitiveness, leveraging their expertise and resources.”

Miguel Lancastre, founding partner of Atena Equity Partners, underlines “Redshift operates in an enticing and fast-growing sector with substantial growth prospects. By combining Redshift’s team expertise with Simon’s know-how and Atena’s capabilities and resources, we are poised to fully exploit its potential. Therefore, at Atena, we are excited about this investment, the culmination of months of effort by our investment and operations team.”

Simon Church, co-investor of Atena Equity Partners and cybersecurity specialist, highlights: “Redshift presents an exciting development potential, both inside and outside of the Portuguese market, utilising their highly skilled team and distinctive solutions. Our ambition is to elevate the company to new heights, leveraging its strengths and delivering further value for clients, employees, partners, and shareholders.”

With over 30 years of experience in the information technology sector and a focus on cybersecurity for more than two decades, Simon Church serves as chairman of Xalient and will be joining Redshift’s board of directors. He is well-versed in the Portuguese and global markets, having previously served as CEO of Maxive Cyber Security, a group divested by Sonae to Thales, which included S21sec, the leading independent cyber security specialist in Portugal and Spain. Simon held executive leadership positions in companies such as NTT Security, Vodafone, Optiv, Verisign, and NetIQ, and also served on the advisory boards of Glasswall and Persefoni.

Atena Equity Partners is a private equity firm that invests in leading companies with strong competitive positions in their sectors. Atena’s funds under management focus on investment situations where operational involvement adds significant value, such as sector consolidation, succession, restructuring, and carve-outs.

Redshift marks the ninth investment of the Atena II Fund, which since 2021 has completed investments in multiple sectors and companies, including five hospital units and clinics in Portugal, pharmaceutical company Sidefarma, luxury finishing textile company Quinta & Santos – Score, and specialist in flexible plastic packaging and technical films Plastrofa.

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Fraud Detection & Prevention Market to Reach $252.7 Billion, Globally, by 2032 at 24.3% CAGR: Allied Market Research

Published

60 mins ago

September 20, 2024

CISION (PR Newswire)

fraud-detection-&-prevention-market-to-reach-$2527-billion,-globally,-by-2032-at-24.3%-cagr:-allied-market-research

The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market.

PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Fraud Detection & Prevention Market by Component (Solution and Service), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) and Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Government and Defense, Manufacturing, Transportation and Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “fraud detection & prevention market” was valued at $29.5 billion in 2022, and is projected to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.

The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological advancements are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the high cost of fraud detection and prevention solutions limits the growth of the fraud detection & prevention market.

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The solution segment held the highest market share in 2022.

By component, the solution segment dominated the market in 2022, this dominance is driven by the increasing demand for advanced technological solutions that can effectively detect, monitor, and prevent fraudulent activities across various industries such as banking, e-commerce, and insurance. Solutions like AI-based fraud detection, machine learning algorithms, and behavioral analytics have become critical tools in identifying potential fraud in real time and reducing financial losses. However, the service segment is expected to witness the largest CAGR of 28.0%, this growth is driven by the increasing need for specialized services such as consulting, implementation, and maintenance to help organizations effectively integrate and optimize fraud detection solutions.

The BFSI segment held the highest market share in 2022.

By industry vertical, the BFSI segment accounted for the largest share in 2022. This is primarily due to the high frequency and sophistication of fraud targeting financial institutions, making fraud detection and prevention solutions a critical need in the BFSI sector. Financial transactions, online banking, and digital payments are particularly vulnerable to cyberattacks, phishing schemes, and identity theft, driving the sector’s substantial investment in advanced fraud detection technologies. However, the retail segment is expected to witness the largest CAGR of 32.7%. This anticipated growth is driven by several factors. Retailers are increasingly targeted by fraudsters due to the high volume of transactions and the sensitivity of customer data involved. As e-commerce and digital transactions expand, the need for advanced fraud detection and prevention solutions becomes more critical.

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Regional Insights: The North America region held the highest market share in 2022.

By region, the fraud detection & prevention market was dominated by North America in 2022. North America, particularly the U.S., has a highly developed financial and technological infrastructure that supports advanced fraud detection solutions. The region’s significant investments in cybersecurity and fraud prevention technologies, combined with a high incidence of cyber threats, drive continuous innovation and adoption of sophisticated fraud management systems.

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Key Industry Developments

In February 2024, the U.S. Department of the Treasury announced that it has recovered over $375 million as a result of its implementation of an enhanced fraud detection process that utilizes Artificial Intelligence (AI) at the beginning of Fiscal Year 2023.
In April 2024, Cognizant collaborated with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America protect their customers from fraud in the growing world of instant digital payments.
In September 2022, Deutsche Bank collaborated with Visa, to help prevent online retail fraud. Merchants who process their e-commerce payments via Deutsche Bank can now use “Decision Manager,” an automated fraud detection system from Visa-owned company Cybersource.

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KuCoin’s Alicia Kao Shares Insights on How AI is Accelerating Mass Crypto Adoption at TOKEN2049 Singapore

Published

60 mins ago

September 20, 2024

CISION (PR Newswire)

VICTORIA, Seychelles, Sept. 20, 2024 /PRNewswire/ — Alicia Kao, Managing Director at leading global cryptocurrency exchange, KuCoin, shared her vision on how crypto exchanges are the drivers that hold the keys to unlocking mainstream crypto adoption. Speaking at the OKX Main Stage at TOKEN2049 in Singapore on a panel session titled “Exchanges at the Helm: Driving Crypto from Niche to Mainstream,” Alicia shared that “accessing information about blockchain has become significantly easier…at KuCoin, we leverage complex data analysis algorithms using our trading bots to help users trade more efficiently.”

Industry stakeholders from all groups were in attendance for the panel, comprising investors, crypto enthusiasts, and more. The focus was on the crucial role of cryptocurrency exchanges in paving the way for crypto adoption and the eventual integration of digital assets into mainstream financial systems. Alicia and her fellow panelists explored both the challenges and opportunities that lay ahead for the crypto industry.

Alongside Alicia, the panel also featured leaders from leading crypto exchanges such as Ben Zhou, Co-Founder and CEO of Bybit; Gracy Chen, CEO of Bitget; Vivien Lin, Chief Product Officer of BingX; and Sonia Shaw, President of CoinW, and moderated by Michael Casey, Chairman of the Decentralized AI Society.

In addition to the panel discussion, KuCoin cemented its position as a leading centralised exchange (CEX) with a prominent presence on the show floor and activations that showcased the platform’s latest developments. The KuCoin Arcade also drew significant attention, offering an engaging and immersive experience with interactive crypto-themed games and activities.

“As we wrap up another edition of TOKEN2049 in Singapore, I’m once again filled with optimism for the future of the crypto industry. The energy, innovation, and collaboration displayed over the past two days have been immensely inspiring. At KuCoin, we will continue striving to be the driving force in this ever evolving space to build a more inclusive, decentralised, and prosperous financial future” added Alicia as TOKEN2049 concluded.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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Ultima Markets Wins Two Prestigious Awards at Global Forex Awards–Retail 2024!

Published

6 hours ago

September 20, 2024

CISION (PR Newswire)

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LIMASSOL, Cyprus, Sept. 20, 2024 /PRNewswire/ — Ultima Markets, a leading global forex and CFDs brokerage, is thrilled to announce its double success at the prestigious Global Forex Awards – Retail 2024. The company won two distinguished awards: “Best Affiliates Brokerage – Global” and “Best Fund Safety – Global.”

The awards were presented during the event in Limassol, Cyprus, where Jean Philippe, Board Advisor, Corporate Governance and Sustainability at Ultima Markets, accepted the honours.

The Global Forex Awards – Retail has celebrated excellence in trading innovation for seven consecutive years. Ultima Markets’ dual wins reflect its commitment to quality, client-centric strategies, and strong partnerships across the financial services sector.

The “Best Affiliates Brokerage—Global” award recognises Ultima Markets’ exemplary affiliate programme, which has successfully driven its global expansion. It is celebrated for its transparency and competitive rewards tailored to affiliate needs.

Receiving the “Best Fund Safety – Global” award highlights Ultima Markets’ efforts to safeguard client assets. Through its partnership with Willis Towers Watson, the company provides up to USD$1,000,000 in insurance per account, while its Financial Commission membership ensures clients access to up to €20,000 in compensation funds.

These recognitions underscore Ultima Markets’ priority to security and transparency, including segregated accounts and robust risk management practices. The broker also assures affiliate partners of exceptional standards.

Commenting on the awards, Jean Philippe said, “These recognitions reflect the exceptional work of our teams to ensure the safety of traders’ funds and our dedication to creating value for our partners and clients. We will continue to evolve and innovate to meet the market’s demands.”

Ultima Markets is renowned for its extensive range of trading products and personalised customer service, designed to meet clients’ diverse needs worldwide. The dual recognition marks a significant milestone in the company’s global growth and reaffirms its reputation for delivering fund safety and robust affiliate opportunities.

“We are delighted to be recognised with these awards, which reflect our mission to create a secure trading environment and build strong, rewarding partnerships,” said Jack Li, Ultima Markets’ Regional Business Director.

About Ultima Markets

Ultima Markets is a fully licensed, fast-growing broker offering access to 250+ financial instruments. With a team of 2,000+ professionals in 15 global offices, we serve clients in 172 countries. Check out more about our awards on Facebook, X, Instagram, LinkedIn and YouTube.